Moving Credit To The Close

January 30, 2002

RealEC To Facilitate Online Transactions For The Credit Network

Inman News Features

The Credit Network, a national mortgage credit reporting service provider, announced an agreement with RealEC Technologies, a B2B e-commerce exchange for real estate transactions, to participate as a service provider for its online transaction system.

With this agreement, originators will be able to access TCN's merged credit reports via RealEC Exchange, a routing process that offers traditional transaction capabilities and data transport, the companies reported.

RealEC?s products enable the online ordering and delivery of real estate related products and services to provide lenders and salespersons the technology to close and manage real estate transactions online in one centralized location, according to RealEC.

"RealEC is constantly looking for new products and services we can offer our customers," says Jeff Sanderson, president of RealEC Technologies. "The Credit Network provides a valuable product for the mortgage industry, and we're confident our customers will benefit from this agreement."

The Credit Network has customized interfaces with many loan origination system providers for automated loan origination and tracking. The programs provide access to a variety of mortgage credit products, the company reported.